A look at the day ahead in European and global markets from Ankur Banerjee:

The U.S. shutdown and political gridlock in Washington show no signs of ending any time soon. That hasn’t stopped stocks and gold striking fresh record highs, as investors mainly focus on the Federal Reserve sticking the rate-cut path.

While the risk of a drawn out shutdown could muddle the policy path, for now, markets are shrugging that off and taking a risk-on approach.

Traders don’t have to bide their time for the U.S. jobs report on Friday due to the shutdown, although manufacturing data from across Europe may sway the markets and underscore the impact of tariffs.

But we have been saying that for a while and data so far has shown limited impact. Data earlier this week showed U.S. manufacturing activity edg

See Full Page